Florida Keys Community College got a shot in the arm Thursday when it was announced the college has been taken off "warning" status by the Southern Association of Colleges and Schools' Commission on Colleges (SACSCOC).

"FKCC has been removed from warning," SACSCOC spokeswoman Pamela Cravey confirmed on Friday, but declining to elaborate further. The change will be noted on the organization's website at some point next week.

A formal letter from SACSCOC is expected to arrive at the college in early July.

The college was put on "warning" status in June of last year due, in part, to issues raised in an audit of the college's finances by the Florida Auditor General. The college has taken steps to address the audit concerns by completing construction of its Marine Technology Building, and arranging a forbearance agreement between the major bondholder of the Lagoon Landing dormitories, and the Direct Support Organization charged with managing them.

The college's accreditation was reaffirmed by SACSCOC in June 2012. The next renewal will take place in 2022.

This past April, a team from SACSCOC visited the college to interview staff and faculty, review documents, and assess progress made in regards to the college's financial management.

"The college continues to strengthen itself financially," said FKCC Provost Brittany Snyder, who is also the college's accreditation liaison. "We are pleased that SACSCOC has formally recognized that."

Snyder added the college expects to close out its fiscal year this month with reserves in excess of the state-mandated five percent level.

"I thank all of our dedicated staff and faculty who on a daily basis have contributed to reinforcing FKCC's financial stability and control," Snyder said.

College President Jonathan Gueverra could not be reached for comment by presstime.